Chart: Challenger, Gray, and Christmas Announced Layoffs (ALO) And YOY Change
Headline: Announced U.S. Job Cuts Jump 67% From Year Ago, Challenger Says
Job cuts announced in the U.S. jumped in May by the most in eight months, led by computer companies. Planned firings surged 67 percent from May 2011 to 61,887, according to figures released today by Chicago-based Challenger, Gray & Christmas Inc. It marked the fourth year-over-year increase so far in 2012. Employers have announced 245,540 reductions since Jan. 1, 20 percent more than a year earlier, the report said. Hewlett- Packard Co. (HPQ) (HPQ) accounted for almost half the announcements this month, making the computer industry the top job-cutter of the year. Firings may also occur in the food industry as Hostess Brands Inc. restructures following its filing for bankruptcy protection, the report said. “While consumers and businesses are spending more on technology, the spending appears to favor a handful of companies,” John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement. “Those that are struggling to keep up with the rapidly changing trends and consumer tastes are shuffling workers to new projects or laying them off, altogether.”Source: businessweek.com
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